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<br />sum of One Hundred Twenty Five Thousand Dollars ($125,000.00), and
<br />interest, as evidenced by a promissory note bearing even date
<br />(hereinafter called "the note"), at the rate(s) of interest thereon, and
<br />other amounts which may hereafter be paid or advanced under the terms of
<br />this Deed of Trust; bath the principal sum and interest thereon being
<br />payable according to terms set forth in the note, reference to which is
<br />hereby made, at the address of the Beneficiary or at such other place as
<br />the holder of the note may designate in writing; the final payment of
<br />principal and interest payable under the note, if not sooner paid, is
<br />due and payable on demand.
<br />Trustor and Beneficiary covenant and agree as follows:
<br />1. warrant of Title - Trustor is
<br />lawfully seized of the Property, and has
<br />good right and lawful authority to sell
<br />and convey the Property; the Property is
<br />free and clear of all liens and
<br />encumbrances except liens now of record;
<br />and Trustor will warrant and defend the
<br />title to the Property unto the Trustee
<br />and its successors and assigns forever,
<br />against the claims of all persons.
<br />Trustor, at Trustor's expense, will
<br />maintain and preserve the lien of this
<br />Deed of Trust as a lien upon the
<br />Property subject only to encumbrances
<br />existing as of the date hereof, will
<br />cause this Deed of Trust, and each
<br />amendment or supplement thereto, to be
<br />filed and recorded as a conveyance of
<br />the Property in such manner and in such
<br />place, and will take such other action
<br />as in the opinion of Beneficiary may be
<br />required by any present or future law in
<br />order to perfect, maintain and protect
<br />the lien of this Deed of Trust, as the
<br />same may be from time to time amended or
<br />supplemented.
<br />2. Pa eat of Princi al and Interest -
<br />Trustor shall punctually pay the
<br />principal of, and interest on, the note,
<br />including any advances thereto as
<br />provided herein, on the dates, at the
<br />place and in the manner provided therein
<br />and will punctually perform all
<br />agreements, conditions and provisions of
<br />any and all other security instruments
<br />given in connection with this
<br />transaction.
<br />3. Preservation aad Maintenance of
<br />Property - Trustor will not commit or
<br />allow any waste upon the Property and
<br />will, at all times, maintain the same in
<br />good order and condition and will make,
<br />from time to time, all repairs,
<br />renewals, replacements, additions and
<br />improvements which are reasonably
<br />required to prevent waste, impairment or
<br />deterioration of the Property. No
<br />building or improvements now or
<br />hereafter erected upon the Property
<br />shall be altered, removed or demolished
<br />without the prior written consent of the
<br />Beneficiary. Beneficiary, or
<br />Beneficiary's agent(s), shall have the
<br />right, at all reasonable times, to enter
<br />upon the Property for the purposes of
<br />inspection thereof without thereby
<br />becoming liable to Trustor or any person
<br />in possession holding under Trustor,
<br />provided, however, Beneficiary shall
<br />give Trustor notice prior to any such
<br />inspection.
<br />4. Damage to Property - In case of any
<br />damage to, or destruction of, the
<br />buildings, improvements or personal
<br />property constituting part of the
<br />Property, whether such loss is covered
<br />by insurance or otherwise, Trustor, at
<br />Trustor's sole cost and expense, will
<br />promptly restore, repair, replace and
<br />rebuild the same as nearly as
<br />practicable to its condition immediately
<br />prior to such damage or destruction or
<br />with such changes and alterations as
<br />Trustor may deem appropriate, provided
<br />such changes and alterations do not
<br />materially lessen the value and utility
<br />of such buildings, improvements and
<br />personalty from that existing
<br />immediately prior to such damage or
<br />destruction.
<br />5. Tasurance - Trustor, at Trustor's
<br />sole expense, will maintain with
<br />insurers approved by Beneficiary,
<br />insurance on the improvements and
<br />personal property, if any, constituting
<br />part of the Property against loss by
<br />fire, lightning, tornado, and other
<br />perils covered by standard extended
<br />coverage endorsement, in an amount equal
<br />to at least one hundred percent of the
<br />full replacement value thereof; and
<br />insurance against such other hazards and
<br />in such amounts as Beneficiary may
<br />require for its protection. Trustor
<br />will comply with such other requirements
<br />as Beneficiary may from time to time
<br />request for the protection by insurance
<br />of the interest of the respective
<br />parties hereto. All insurance policies
<br />maintained pursuant to this Deed of
<br />Trust shall name Trustee and Beneficiary
<br />as insureds, as their respective
<br />interests may appear, and provide that
<br />there shall be no cancellation or
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